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Novi Connect
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Platform for sustainable product development compliance
Novi Connect
Work Here?
Platform for sustainable product development compliance
About Novi Connect
Industries
Consulting
Enterprise Software
Consumer Goods
Company Size
51-200
Company Stage
Early VC
Total Funding
$51.4M
Headquarters
San Francisco, California
Founded
2017
Overview
NoviConnect operates in the sustainable product development sector, providing a platform that assists brands, retailers, and chemical manufacturers in creating and marketing environmentally friendly products that comply with strict sustainability standards. The platform allows users to analyze and verify their products against over 100 sustainability standards, enabling them to search for ingredients and streamline their product development process. Unlike its competitors, NoviConnect focuses on a subscription-based model that offers a comprehensive database and analytical tools tailored to the needs of its clients. The company's goal is to empower businesses to make informed decisions about their product formulations, ensuring compliance with regulatory requirements while meeting the growing consumer demand for transparency and sustainability.
Simplify's Take
What believers are saying
- Novi Connect raised $40M in funding, led by Tiger Global, in February 2022.
- The rise of 'clean label' products increases demand for Novi's compliance verification.
- EU's Green Deal boosts demand for platforms facilitating sustainability compliance.
What critics are saying
- Emerging startups in the sector could threaten Novi Connect's market share.
- Rapid AI advancements may render Novi's platform features obsolete if not updated.
- Data privacy concerns could lead to legal challenges for Novi Connect.
What makes Novi Connect unique
- Novi Connect uses AI to create detailed chemical profiles for trade materials.
- The platform enables brands to find safer alternatives and discover new ingredients.
- Novi Connect acts as a third-party to translate proprietary information between suppliers and brands.
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Funding
Total Funding
$51.4M
Above
Industry Average
Funded Over
3 Rounds
Tiger Global
Greylock PartnersGrowth & Insights and Company News
6 month growth
↓ -5%1 year growth
↑ 0%2 year growth
↓ -14%In February of 2022, Novi announced $40M in new funding from Tiger Global, Greylock, and Defy.
Novi Connect, a business-to-business (B2B) marketplace for sustainable, innovative ingredients and packaging, raised $40 million in a funding round led by Tiger Global.
Novi has announced that it raised $40 million in its latest funding round, led by Tiger Global with follow-on investments from Defy.vc and Greylock.
Novi Connect, a San Francisco CA-based B2B marketplace for sustainable packaging, raised $40M in funding. The round was led by Tiger Global with participation from Defy.vc and Greylock. The company intends to use the funds to: build additional technology for both sides of the marketplace to comply with evolving sustainability claims, grow its selection of [] The post Novi Raised $40M in Funding appeared first on FinSMEs.
Tiger Global has led a $40 million round for Novi Connect, the developer of a B2B marketplace designed to help consumer brands find sustainable ingredients and packaging.
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About Novi Connect
Industries
Consulting
Enterprise Software
Consumer Goods
Company Size
51-200
Company Stage
Early VC
Total Funding
$51.4M
Headquarters
San Francisco, California
Founded
2017
There are no jobs for Novi Connect right now.
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to Novi Connect